Subordinate Loan. There are no subordinate loans encumbering the Property and Seller has no knowledge of any mezzanine debt related to the Property.
Subordinate Loan. LHC acknowledges and agrees that Borrower has entered or will enter into a Subordinate Loan affecting the Project, in the original principal sum of $[ ] secured by a Subordinate Mortgage in favor of the Subordinate Lender, which will have a third priority mortgage lien on the Project, and evidenced by a Subordinate Note and such other Subordinate Loan Documents as required by the Subordinate Lender. LHC’s Mortgage and the Loan Documents shall be senior to the Subordinate Loan documents in all respects.
Subordinate Loan. The Borrower does hereby agree declare, confirm and undertake that all loans, advances, and other monies advanced by its group companies/ associates/ the directors, designated partners, partners, and/or their friends and relatives or any of them or any other person shall stand and be regarded as subordinate debt in relation to the said loan/advances/Credit Facilities hereby granted. The Borrower does hereby further declare and undertake that in case of of Event of Default the Borrower shall not repay any of such loans and advances in whole or in part or pay any interest thereon until such time as the entire outstandings of the Lender under and in pursuance of the Credit Facilities and/or this Agreement are repaid in full.
Subordinate Loan. Subject to the satisfaction of the conditions precedent described in Section 4.1 hereof, the Subordinate Loan shall be fully funded and disbursed to the Borrower on the date of the Loan Closing. The disbursement of the Subordinate Loan at the Loan Closing together with the initial disbursement of the Priority Loan at the Loan Closing, (as described in Section 2.2(a)), is sometimes hereinafter referred to as the "Initial Disbursement".
Subordinate Loan. Party A and Party B hereby agree and acknowledge that (i) the Loan shall be subordinate to any other loans that Party B may borrow from Industrial and Commercial Bank of China from time to time to finance the difference between its total investment amount and its registered capital (“ICBC Loans”), and (ii) any repayment of principal of the Loan would not commence until the ICBC Loans are fully repaid unless otherwise expressly permitted by the lender(s) of the ICBC Loans.
Subordinate Loan. Notwithstanding anything to the contrary contained herein and as long as the Credit Facility (as defined below), or any portion thereof, remains outstanding, this Note will be subject and subordinate to the Credit Facility and all of Borrower’s obligations in connection therewith, and unless permitted pursuant to the Subordination Agreement, the maximum outstanding principal amount of this Note shall not exceed $10,000,000. The term “Credit Facility” shall mean a credit facility in an amount not to exceed $750,000,000 by and among the Borrower, as borrower, the lenders from time to time that are parties thereto, and JPMorgan Chase Bank, N.A., as administrative agent, and the loan documents executed or delivered in connection therewith (each as amended, supplemented, amended and restated or replaced). As long as the Credit Facility, or any portion thereof, remains outstanding, Borrower shall not, and shall not be obligated to, make any payments under or with respect to this Note unless all amounts then due and owing under the Credit Facility, including, without limitation, monthly debt service payments and deposits to reserve accounts, if any, have been paid and such payments are permitted pursuant to the Subordination Agreement.
Subordinate Loan. Except for any repayment or discharge pursuant to the terms of Section 5.1.18 hereof and with the prior written consent of Lender, Borrower shall not cause or permit the Subordinate Loan Documents to be modified, changed, supplemented, altered or amended.
Subordinate Loan. The Borrower and the Lender agree that the Loan (including any guarantees thereof) shall be subordinated in rank and right of payment to the indefeasible payment in full of all Senior Indebtedness as set forth in Section 3 of this Agreement.
Subordinate Loan. Borrower shall not consent to any modification or amendment of, or waive any of the terms and conditions of, the Subordination Agreement or any of the documents evidencing or securing the Subordinate Loan, Borrower shall not consent to the granting of any additional security or any guaranty for all or any part of the Subordinate Loan.
Subordinate Loan. Borrower agrees to comply with and ---------------- perform all of the terms and conditions of the
